May 20, 2009
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Ittierre appoints Massimo Suppancig as director general

May 20, 2009

Massimo Suppancig
On the road to recovery, Ittierre S.p.A, represented by its three administrators – Stanislao Chimenti, Andrea Ciccoli and Roberto Spada, have named Massimo Suppancig as director general.

Massimo Suppancig, 49, held the post of administrator posted to the Italian handbag brand Valextra between 2003 and 2007. Notably, he contributed to this brand’s relaunch and increase in turnover. Mr Suppancig has also worked at Benetton, the Gruppo Finanziaro Tessile, Escada and at Hugo Boss Italy.

“The appointment of Massimo Suppancig is important for Ittierre”, stated the administrators. “It confirms the determination that we have to continue to recovery of this company”.

It has been more than three months since the production company of the IT Holding group (which holds the licences for Just Cavalli, Galliano, C’n’c and Versace Jeans) was placed under administration in an exceptional procedure by the Italian economic development minister. This was done in order to prop the company up, with the aim of preserving the jobs of its 772 employees.

The arrival of Massimo Suppancig is confirmation that the group want to relaunch the business, now knowing that the trio of administrators have obtained a credit line of €30 million and that the licence for Just Cavalli has been extended to run until 2014.

By Jonathan Fulwell (Source: Céline Vautard)

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